Section 5-29-19 – Research park corporation not a public body.
5-29-19. Research park corporation not a public body. No research park corporation formed pursuant to §5-29-16 may be deemed an agency, public body, or other political subdivision of South Dakota, and no research park corporation formed pursuant to §5-29-16 may borrow money secured by the State of South Dakota. Source: SL 2012, ch 46, §19.
Section 5-29-20 – Research park corporation not subject to statutes and rules governing public bodies.
5-29-20. Research park corporation not subject to statutes and rules governing public bodies. No research park corporation formed pursuant to §5-29-16 is subject to statutes or rules regulating the conduct of public bodies, including those relating to personnel, procurement of goods and services, board meetings, disposition or acquisition of property, capital outlays, per diem and […]
Section 5-29-21 – Research park corporation to have powers of nonprofit corporation.
5-29-21. Research park corporation to have powers of nonprofit corporation. A research park corporation formed pursuant to §5-29-16 shall have all rights, powers, and privileges granted to nonprofit corporations pursuant to Title 47 which are necessary and convenient to carry out and to effectuate the provisions of this chapter. Source: SL 2012, ch 46, §21.
Section 5-29-13 – Commercially reasonable performance required–Enforcement and termination.
5-29-13. Commercially reasonable performance required–Enforcement and termination. Each lease, contract, or agreement shall contain provisions that require commercially reasonable performance by the private lessee or contractor. Each lease, contract, or agreement shall contain provisions that reserve to the Board of Regents the power to enforce the requirements of this chapter and of any leases, contracts, […]
Section 5-29-14 – Title to improvements upon termination.
5-29-14. Title to improvements upon termination. Notwithstanding any other provision of law to the contrary, upon termination of any such lease, contract, or agreement, the Board of Regents may take title to all improvements comprising the research park. Source: SL 2012, ch 46, §14.
Section 5-29-15 – State not liable for research park debts.
5-29-15. State not liable for research park debts. Nothing in this chapter authorizes the Board of Regents or any entity operating a research park under a lease, contract, or agreement with the Board of Regents to contract a debt on behalf of, or in any way to obligate, the State of South Dakota, or to […]
Section 5-29-16 – Formation of research park corporations.
5-29-16. Formation of research park corporations. The Board of Regents may form one or more research park corporations, separate and apart from the state, to construct, finance, develop, maintain, and operate research parks or economic development initiatives that support the teaching, research, or service mission of the university system by expanding opportunities for South Dakota […]
Section 5-29-17 – Board of directors appointed by Board of Regents.
5-29-17. Board of directors appointed by Board of Regents. Each research park corporation formed pursuant to §5-29-16 shall be governed by, and all of the corporation’s functions, powers, and duties shall be exercised by, a board appointed by the Board of Regents. Each research park corporation shall have the Board of Regents as its sole […]
Section 5-29-18 – Net earnings of research park corporation.
5-29-18. Net earnings of research park corporation. No portion of the net earnings realized by any research park corporation formed pursuant to §5-29-16 may inure to any director or officer of the corporation or to any private entity or individual. Source: SL 2012, ch 46, §18.
Section 5-29-3 – Research parks on state lands.
5-29-3. Research parks on state lands. The Board of Regents may utilize state lands under its control for the construction, development, maintenance, and operation of research parks. Source: SL 2012, ch 46, §3.